| Line item | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 3 | 3 | 51 | 122 |
| Reserves | 3 | 3 | 3 | 3 | 73 | 90 |
| Borrowings | 2 | 3 | 1 | 1 | 0 | 10 |
| Other Liabilities | 3 | 1 | 1 | 0 | 27 | 17 |
| Total Liabilities | 10 | 10 | 8 | 7 | 151 | 239 |
| AssetsFixed Assets | 1 | 2 | 2 | 0 | 65 | 55 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 5 | 5 | 4 | 0 | 0 | 0 |
| Other Assets | 3 | 3 | 2 | 7 | 86 | 183 |
| Total Assets | 10 | 10 | 8 | 7 | 151 | 239 |
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ActivitiesCash from Operating | -5 | 2 | 5 | -1 | -66 |
| Cash from Investing | 3 | -4 | -2 | 1 | -109 |
| Cash from Financing | 1 | 2 | -3 | 0 | 180 |
| SummaryCapital Expenditure | — | — | — | — | — |
| Free Cash Flow | -6 | 1 | 5 | 0 | -127 |
| FCF Margin | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
KALIND · CYCLICAL_UNMODELABLE
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